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get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in the first place. it would do so by removing the cap on the treasury of borrowing money. its chances of passage in the republican controlled house are basically slim and none. but at least it allows democrats to paint the republicans as extremists in their desire to attach the debt ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare
get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in...
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the budget they voted for requires the debt ceiling to be raised. and now when the time comes to avoid default, they don't want to do it. but i think what you're seeing is speaker boehner knows this isn't a viable tactic. i think mr. ryan knows it's not a viable tactic. but there's a lot in the republican conference that continue to see this doomsday kind of approach as a viable approach. and i think that cooler heads are starting to prevail on the republican side. and that's a good thing. >> and you are part of this no labels coalition wanting to reach across the aisle. but let me read to you what david brooks wrote. polarization is too deep, special interests are too strong. the negotiators are too rusty. republicans are not going to give up their vision of a low-tax america. democrats are not willing to change the current entitlement programs. so realistically, do you really believe that the next four years are going to be different than the last four years? >> well, you know, i don't have a prediction. i have a job. and my job is to try to solve
the budget they voted for requires the debt ceiling to be raised. and now when the time comes to avoid default, they don't want to do it. but i think what you're seeing is speaker boehner knows this isn't a viable tactic. i think mr. ryan knows it's not a viable tactic. but there's a lot in the republican conference that continue to see this doomsday kind of approach as a viable approach. and i think that cooler heads are starting to prevail on the republican side. and that's a good thing....
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pass the debt ceiling and talk about spending cuts if that's what you want to talk about. >> i want to read what "the washington post" conservative columnist had to say about the republican strategy. here's what he said. he wrote, obama's post-election arrogance and intransigence can put you in a fighting mood. i sympathize. this is what he's telling the republicans but i'm tending toward the realist view. don't force the issue when you don't have the power s. that what we're seeing with the debt kreeling in they don't have the power and maybe taking this advice from the conservative columnist? >> it's rare i agree with charles krauthammer but don't fight battles you can't win and don't go to the brink to be perceived as pulling back and therefore losing. this is not a fight they can win. it's certainly one they can lose and i think, though, just doing this three months, we are not done with this. if you're a crisis junkie, we are in the position of not only did the fiscal cliff not end this, we'll talk about this, and talking about it and talking about it and whether there's a coheren
pass the debt ceiling and talk about spending cuts if that's what you want to talk about. >> i want to read what "the washington post" conservative columnist had to say about the republican strategy. here's what he said. he wrote, obama's post-election arrogance and intransigence can put you in a fighting mood. i sympathize. this is what he's telling the republicans but i'm tending toward the realist view. don't force the issue when you don't have the power s. that what we're...
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they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about the state of our finances? >> well, i would say there were some things he said that were true, some things that he said that were, i think, misleading. importantly, he didn't put into proper context the discussion that we're having nationally about the debt ceiling and about the state of our finances more broadly. if you look at where we are, more than $16 trillion in debt, the president is right when he says that
they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american...
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debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a
debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these...
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raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already authorized. and, you know, the notion that republicans in the house or maybe some republicans in the senate would suggest that in order for us to get our way on our spending priorityies, that e would risk the full faith and credit of the united states, that, i think, is not what the founders intended. that's not how, i think, most americans think our democracy should work. they've got a point of view. democrats in congress have a point of view. they need to sit down and work out a compromise. [ inaudible ] yeah. >> and you're not negotiating on the debt c
raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already...
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there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us, if we went over, if we went over for a day it's one thing, if we went over and stayed for a week, do they look at it just because washington can't get along, that's reason enough for another downgrade? >> that's a critical question. that's why the democrats are likely to define default as missing any government payment becaus
there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen,...
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he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant legislation. >> congressman king in the studio after my asking all the time. >> i couldn't stay away from you, soledad. >> she's not really a tough interviewer is she? >> she's very nice and multiracial -- >> are we rolling on this? i love this. keep the nice part. i would appreciate that. >> she was the irish-american woman of the year, there you go. >> and i accepted. nice to have you congressman, appreciate it. >>> other stories making news john has that for us. >> lots of questions about the story involving notre dame's manti te'o and his girlfriend who was suppose
he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant...
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he's refusing to negotiate, so if the gop ties the debt ceiling to the current budget battle. listen to this. >> republicans and congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> steve: here is somebody who dealt with enormous deficits firsthand, the former governor of the golden state of california, arnold schwarzenegger. good morning to you. >> good morning. nice to be here again. >> brian: he sends a warning to the republicans should they back off or take on the president? >> first of all, i think i find it interesting that when you want to have more money, if you go to any financial institution, they say look, i can't pay my bills, i need more money. they want to see their payment plan. how are you going to live responsible from here on? then you can get more money. so i don't understand that why this should not be a part of the discussion because it ought to be. i think ameri
he's refusing to negotiate, so if the gop ties the debt ceiling to the current budget battle. listen to this. >> republicans and congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> steve: here is somebody who dealt with enormous deficits firsthand, the former governor of the golden state...
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. >> the debt ceiling debate continues. >> the real issue here is, we all know, is spending. >> what are the risks of huge dispense cuts? >> operation commitment, and trading will be gutted. we will ground aircraft, return ships to port, and sharply curtail training across the force. >> a bill before the while the state legislature would make a federal legend try to enforce a ban on arms federal -- guilty of a felony. there are similar measures in texas. the governor of mississippi want to make it illegal in the state to makin force any new gun laws. how many times have we had this debate? this time after the massacre in connecticut, the president says it is different. the president has said 23 executive order is aimed at reducing gun violence and is urging congress to reduce -- and it back crunchers' for all gun sales purity is also asking americans to put heat on members of congress to get there. >> ask for a member of congress if they support universal back rent checks to keep guns out of the wrong hands. if they say no, ask them why not. >> the nra response was predictably immedi
. >> the debt ceiling debate continues. >> the real issue here is, we all know, is spending. >> what are the risks of huge dispense cuts? >> operation commitment, and trading will be gutted. we will ground aircraft, return ships to port, and sharply curtail training across the force. >> a bill before the while the state legislature would make a federal legend try to enforce a ban on arms federal -- guilty of a felony. there are similar measures in texas. the...
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has been down graded as a result of it? >> i remember as a kid i don't know elementary school or junior high when bewere talking about the debt it was something like 4 trillion. and our teachers asked us to wrap our heads around that number. try wrapping your head around 16 trillion. i just can't imagine. to pay that down how many years that would take. even with being smart with government spending. >> it's larger than our entire economy just to put it in some scale here. >> that's a problem. yeah. i remember when i was a kid going to the gas station and thinking wow why the tim
we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has been...
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we don't have to raise debt ceiling if sequestration happens. as a result republicans had a bargaining chip. lori: talk about the investments. emerging markets you like china and asia. in our tease we said germany too. >> yes. lori: i don't know if germany is really emerging markets. we'll start with emerging markets and move on. >> 2012 to 2013, 2012 we were heavily allocated in the u.s. now we're looking back overseas again. i'm not suggesting a dark cloud over europe is gone right now but i do think there are great opportunities in northern europe and germany remains as the one gem in europe in terms of that economic prowess. lori: tell me about the emerging markets. these economies in many ways are outperforming the u.s. many say put emerging markets into retirement if you want to earn a decent yield at this point you have to mix it up with the emerging markets. not alternative investment it used to be. >> correct. the old bric trade from 2007 and pull out r and o, invest in brazil and china those are two countries to be in. europe and u.s.
we don't have to raise debt ceiling if sequestration happens. as a result republicans had a bargaining chip. lori: talk about the investments. emerging markets you like china and asia. in our tease we said germany too. >> yes. lori: i don't know if germany is really emerging markets. we'll start with emerging markets and move on. >> 2012 to 2013, 2012 we were heavily allocated in the u.s. now we're looking back overseas again. i'm not suggesting a dark cloud over europe is gone...
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there's an upcoming one with the debt ceiling. ep has to acknowledge this not so pretty reality in the washington as he gives a speech that's supposed to be inspirational. >> the reality is the same congress he was working with on friday will be the same congress he's working with come tuesday despite the speech. we'll watch closely to see more details coming up. thank you so much. we'll watch more of this ahead. >> we always know security is tight in washington, but for the inauguration, it is as tight as it can possibly get, like the motherload of security here. joe johns is here with us to talk about the whole situation. what are we seeing? >> well, john, first of all, there are probably going to be something like 12,000 security people that we know of in and around the national mall for all of the events. so let's break that down a little bit. there are about 4,000 d.c. police officers all of whom will be available for security, different shifts probably working between 12 and 1 hours on sunday and on monday. we have something
there's an upcoming one with the debt ceiling. ep has to acknowledge this not so pretty reality in the washington as he gives a speech that's supposed to be inspirational. >> the reality is the same congress he was working with on friday will be the same congress he's working with come tuesday despite the speech. we'll watch closely to see more details coming up. thank you so much. we'll watch more of this ahead. >> we always know security is tight in washington, but for the...
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what ryan is suggesting is you just delay, you extend the debt ceiling for a few months and then you have the night oversee questions tracing, because there's already a hundred billion dollars in spending cuts that's baked in the cake that will take effect on march 1st. that's the point at which you say to the president if you're the republicans, look, we can either go with that hundred billion dolla dollar cut or work something else but we're going to cut a lot of money out of the budget. bill: can that idea move forward do you think. >> it makes a lot more sense. the republicans have a lot more leverage there and they don't run the risk and the president can't portray them at that point as being willing to default on the full faith and credit of the united states and sink the economy, and have credit ratings dropped and things like that. this is in a sense it's a flip of what happened with the fiscal cliff where one way or another taxes were going to go up on the rich was the bush tax cuts were going to expire. here there are going to be spending cuts that kick in on march 1st, so
what ryan is suggesting is you just delay, you extend the debt ceiling for a few months and then you have the night oversee questions tracing, because there's already a hundred billion dollars in spending cuts that's baked in the cake that will take effect on march 1st. that's the point at which you say to the president if you're the republicans, look, we can either go with that hundred billion dolla dollar cut or work something else but we're going to cut a lot of money out of the budget....
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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it's also going to be a play we know there's could be a fight over the debt ceiling. in the past the debt ceiling reminded folks we were borrowing too much and we needed to make changes. it could be a useful reminder not if it goes as far as people really start to worry about in the u.s. government and economic damage which is what we saw last time. the third piece of the resolution the fact that government spending is going to expire and these three issues is another kind of fiscal cliff and the question is is it going to force action with the hardest pieces that are still remaining were the fact when it comes to the fiscal clef they still for all intensive purposes it's good we didn't go over the fiscal cliff, it's good we raise revenue, but we basically did what we always do in washington which is we punted all the hard choices and a sort of tried to declare a bipartisan victory. but it wasn't theirs of the question was what's going to make these next action forcing moments more effective in getting us to take on the policy and this was a part of your question that
it's also going to be a play we know there's could be a fight over the debt ceiling. in the past the debt ceiling reminded folks we were borrowing too much and we needed to make changes. it could be a useful reminder not if it goes as far as people really start to worry about in the u.s. government and economic damage which is what we saw last time. the third piece of the resolution the fact that government spending is going to expire and these three issues is another kind of fiscal cliff and...
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credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to negotiate the big deal he says he's looking for. we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn you
credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to...
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ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being.
ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign...
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they'll push -- the question is how -- how do they push on the debt ceiling? do they say, look, we'll give you a short-term extension of the debt ceiling for a certain amount of spending cuts, or we'll give you a long-term extension like you want for even more spending cuts. can they force entitlement reform around medicare, for instance, even some of the -- in their view -- more limited things that the president wants to do around means testing and age and indexing to try to attach that to a debt-limit deal. do they move beyond the debt limit, try to get to the continuing resolutions and those kinds of things? they recognize that this is the only area of leverage that they have, but they want to be careful about it. >> so chuck todd, how does the white house deal with that supposed leverage? >> well, first i think the republicans are hoping that they have a manti te'o defense, that somehow it was all a hoax and maybe the election was a hoax and they can go back and redo everything. no. i think the republican -- the white house strategy is make the house repub
they'll push -- the question is how -- how do they push on the debt ceiling? do they say, look, we'll give you a short-term extension of the debt ceiling for a certain amount of spending cuts, or we'll give you a long-term extension like you want for even more spending cuts. can they force entitlement reform around medicare, for instance, even some of the -- in their view -- more limited things that the president wants to do around means testing and age and indexing to try to attach that to a...
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government will run out of money to pay its bills if congress does not raise the debt ceiling. president barack obama will not negotiate with congress on this issue. while republicans want any increase in the debt ceiling to be tied to spending cuts... >> the issue here is whether or not america pays its bills. we are not attend beat nation and so -- there is a very simple solution to this. >> now in a statement, house speaker phil boehner indicated the republican party is prepared for a fight and the consequences of increasing the debt ceiling are real but so too is the consequences of allowing our spending problem to go unresolved. >>> they are closely watching this debt ceiling battle in washington and if congress does not act on the debt ceiling, the national economy could fall and that would have a negative affect on california's budget numbers. they revealed a budget surplus in many years and that's thanks to a new tax revenue from proposition 30 as well as spending cuts. >>> the social media is buzzing about a possible announcement by facebook. janine de la vega joins us
government will run out of money to pay its bills if congress does not raise the debt ceiling. president barack obama will not negotiate with congress on this issue. while republicans want any increase in the debt ceiling to be tied to spending cuts... >> the issue here is whether or not america pays its bills. we are not attend beat nation and so -- there is a very simple solution to this. >> now in a statement, house speaker phil boehner indicated the republican party is prepared...
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Jan 15, 2013
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they don't want to have the debt ceiling be the problem. they think that would be very bad for the economy and for everyone in the economy. they worry about interest rates going up and they worry about the impact on our deficit. because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the debate over the debt ceiling and the budget show dunn. all three of these very serious. but which is the most serious. >> the debt ceiling could do damage to our countries for decades to come if we hit it and don't expect the problem. this is the most dangerous thing. this is almost a nuclear option. this is really playing with very dangerous things. and one little mistake could be devastating to our country. >> and yet you still come on day after day and smile with me. thank you. always good to see you. >>> by the way, i just want to remind you if you're doi
they don't want to have the debt ceiling be the problem. they think that would be very bad for the economy and for everyone in the economy. they worry about interest rates going up and they worry about the impact on our deficit. because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the...
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Jan 18, 2013
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be done in term of reaching the debt ceiling. both sides seem locked in -- the president said i'm not going talk about the debt ceiling. speaker boehner said it can't be done unless we cut spending at the same time. so having watched this for more than thirty years of congress, what are the outside of actually avoiding going over the cliff given where both parties are? >> i think the odds are that we won't do it. [inaudible] as a mart of faith and consequence. those who say let's toy with it. they are toying with the american economy and they are toying with the global economy. and so i think it's somewhat -- it seems great to talk about doing that. but the closer you get to that cliff, i think the less likely it is that you'll -- [inaudible] >> let me ask one more and go to rick. let me ask about tax reform. you told "politico" last week that a balanced approach to replacing the sequester was spending cut and revenue. should accelerate tax reform. i believe it's fully possible this year if we work on a bipartisan basis. unquote.
be done in term of reaching the debt ceiling. both sides seem locked in -- the president said i'm not going talk about the debt ceiling. speaker boehner said it can't be done unless we cut spending at the same time. so having watched this for more than thirty years of congress, what are the outside of actually avoiding going over the cliff given where both parties are? >> i think the odds are that we won't do it. [inaudible] as a mart of faith and consequence. those who say let's toy with...
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ceiling thing. in 2011, there was not a single republican in congress in the house or in the senate who broke ranks publicly and said actually, purposefully driving the american economy into a ditch to make a point that even we don't understand and that is against the constitution, that might not be a great idea. nobody broke ranks when the republicans did this in 2011. nobody on the republican side. but today on the republican side somebody did. today republican senator lisa murkowski of alaska broke ranks. she gave an interview to her hometown newspaper in alaska, she says she disagrees threatening the country with default. quote, murkowski is breaking rank, saying the country has a duty to assure it pays its bills. murkowski said not all of her colleagues in the senate will say it out loud, but she believes most agree that failing to raise the debt limit would harm perception of the country. quote, if you incur an obligation, you have a responsibility to pay for that, murkowski said. time is goin
ceiling thing. in 2011, there was not a single republican in congress in the house or in the senate who broke ranks publicly and said actually, purposefully driving the american economy into a ditch to make a point that even we don't understand and that is against the constitution, that might not be a great idea. nobody broke ranks when the republicans did this in 2011. nobody on the republican side. but today on the republican side somebody did. today republican senator lisa murkowski of...
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meantime the debt and the debt ceiling that we're about to hit again in february, the house is back in session today. they got to address that. republicans pushing for spending cuts at this time could include social security and today vice president biden sits down with cabinet members and members of congress to finalize his recommendation for gown control. we'll present them to the president tomorrow likely to include universal background checks. >> no sleep for you over the next week, right? thank you so much. tracie potts in washington, d.c. >>> former secretary of state colin powell is speaking out on nbc's "meet the press." he endorsed chuck hey goebl the new defense secretary. he said he would do a great job at the pentagon. he fired harsh words at his own republican party. >> there's also a dark, a dark vein of intolerance in some parts of the party. what do i mean by that? what i mean by that is they still sort of look down on minorities. how can i evidence that? when i see a former governor say that the president is schucking and jirv'g that's a slave term. >> u.s. will help f
meantime the debt and the debt ceiling that we're about to hit again in february, the house is back in session today. they got to address that. republicans pushing for spending cuts at this time could include social security and today vice president biden sits down with cabinet members and members of congress to finalize his recommendation for gown control. we'll present them to the president tomorrow likely to include universal background checks. >> no sleep for you over the next week,...
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for example they have a another crisis debt ceiling the rating agencies are going to say we're going to cut your rating from aaa it was already downgraded once very few credits now in the world have aaa which means that the collateral holding up the devil's derivatives the really the biggest ponzi scheme of all if you thought i am i was a ponzi scheme it's nothing compared to the devil's derivatives so the collateral is collapsing nick dunbar even the ability to float massive ponzi scheme our central banks related fraud by fraud meisters like jamie diamond east still need a aaa rated credit but now those are disappearing what's going to happen in six months from now when there is no aaa rated credit at all in the world and this whole gram of derivatives chicanery. it just goes away doesn't it well if you say it's a good thing that people haven't got the illusion of aaa safety some ways it was a substitute for doing your own homework actually looking a little hood and seeing whether an investment was was a really safe as people said it was their job or are author of the devil's deriva
for example they have a another crisis debt ceiling the rating agencies are going to say we're going to cut your rating from aaa it was already downgraded once very few credits now in the world have aaa which means that the collateral holding up the devil's derivatives the really the biggest ponzi scheme of all if you thought i am i was a ponzi scheme it's nothing compared to the devil's derivatives so the collateral is collapsing nick dunbar even the ability to float massive ponzi scheme our...
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let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates one of your colleagues was on the telephone, and he described you, your words, not mine as one tough -- >> his words. >> as one tough bitch. >> yeah. >> and when you heard that, you thought what? >> what in the world is wrong with me? i was a pretty tough negotiator and hard to push around and i don't think they were used to my kind of toughness then. >> is his description in any way unfair? >> probably not. >> she's been called a lot of things, but she told us more than madam justice, she prefers another title. >> it's sonia from the bronx. >> what does it mean to be sonia from the bronx
let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates...
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once we will through the debt ceiling and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove brilliant exit prices? no. i bet that this is one of these moments where the world economies are going to be better. i say that because it is the same batehavior i've seen over d over and over again. they are days to buy, not sell. in order to get into this bull market, here is the bottom line, i think this market is simply taking a snooze after a big bull run. but wakes itself up perhaps with my clock and if history serves me right, they go higher not lower and it is turned out that their evaluations ended up being catalysts galore. bob in florida, bob >> it is fwrat to tais great to. south florida by way of teaneck, new jersey. i'm calling about krispy kreme donuts. i sold it and forgot about it and now it seems like th
once we will through the debt ceiling and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove brilliant exit prices? no. i bet that this is one of these moments where the world economies are going to be better. i say that because it is the same...
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we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence and it addresses not only the guns but mental health and school safety. briefly, it will ban military assault weapons that have no place on the streets of baltimore or no other neighborhood in our state and it will limit the size of magazines in order to make it harder for criminals to gun down in succession police officers or school children. >> that might work for a state like maryland, a very blue state, but maybe not so much at a federal level. david keane, the president of the national rifle association, says, yeah, it will be a whole different stor
we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence...